Weekly Fundamentals – Gold at 6 Years’ Low as Fed Further Signaled Rate Hike in December

Gold prices declined to fresh 5.5-year low last week as hopes of Fed funds rate hike in December continued to play in the market. Generally firm US macroeconomic data also supported the view. CME’s 30-day Fed Fund futures have priced in a 73.6% of a December rate hike on Friday. On the fundamentals, it appears that the demand outlook has improved as gold prices lowered.

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Weekly Fundamentals – Gold at 6 Years’ Low as Fed Further Signaled Rate Hike in December